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Caprice Resources Ltd. (AU:CRS)
ASX:CRS

Caprice Resources Ltd. (CRS) AI Stock Analysis

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AU:CRS

Caprice Resources Ltd.

(Sydney:CRS)

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Neutral 42 (OpenAI - 5.2)
Rating:42Neutral
Price Target:
AU$0.11
▲(17.78% Upside)
The score is held down primarily by very weak financial performance (minimal revenue, widening losses, and persistent cash burn), only partly offset by a low-debt balance sheet. Technical indicators also lean bearish with the price below key moving averages and a negative MACD. Valuation provides limited support because earnings are negative and no dividend yield is provided.
Positive Factors
Very low financial leverage
Essentially no debt materially lowers interest burden and preserves financial flexibility. Over a multi-month horizon this reduces solvency risk, gives management time to address operational issues without immediate refinancing, and supports strategic options during cash burn.
Growing equity base
A materially larger equity base strengthens the company’s capital structure and supports asset growth. This persistent increase provides a structural buffer against losses, lowering leverage sensitivity and improving the ability to fund projects or withstand operational setbacks over months.
Listed on ASX (capital market access)
An ASX listing provides ongoing access to public equity and investor visibility, a durable advantage for raising capital or strategic partnerships. Over a 2–6 month horizon this structural market access helps management address funding needs arising from negative cash flows or development cycles.
Negative Factors
Effectively no revenue
Persistently negligible revenue means the core business has not demonstrated product-market traction. Without sustained sales, operating leverage cannot improve, making profitability unlikely in the medium term and forcing reliance on external funding to sustain operations.
Widening net losses
Expanding losses indicate the company is consuming shareholder capital faster over time. This structural trend erodes retained equity, raises the likelihood of future dilutive capital raises, and signals underlying operational or commercial weaknesses that persist absent clear revenue growth.
Persistent negative operating and free cash flow
Chronic negative operating and free cash flow means the business is structurally cash consumptive and must rely on external financing to continue. Over months this increases financing risk, potential dilution, and limits capacity for investment or scaling until cash generation improves.

Caprice Resources Ltd. (CRS) vs. iShares MSCI Australia ETF (EWA)

Caprice Resources Ltd. Business Overview & Revenue Model

Company DescriptionCaprice Resources Limited engages in the acquisition, exploration, and development of mineral resource projects in Australia. The company explores for gold, lead, zinc, and copper deposits. It holds 100% interest in Northampton project located in Western Australia; and 100% interest in the Wild Horse Hill project located in Pine Creek province of Northern Territory. The company also holds an 80% interest in the Cuddingwarra and Big Bell South Projects located in Western Australia; a 100% interest in the Yungaro Project located in Western Australia; and a 100% interest in the Island Gold Project located in Lake Austin. The company was incorporated in 2018 and is based in West Perth, Australia.
How the Company Makes MoneyCaprice Resources Ltd. generates revenue primarily through the exploration and potential development of mineral properties. The company invests in identifying and evaluating mineral-rich areas, aiming to discover commercially viable gold and base metal deposits. Revenue is typically generated from the sale or joint development of these mineral assets. Caprice Resources may also enter into joint venture agreements with other mining companies, allowing for shared exploration costs and potential profit-sharing from the development of discovered resources. Additionally, the company might engage in raising capital through equity financing to fund its exploration and operational activities. Key revenue streams include the sale of mineral rights, joint venture partnerships, and any eventual production and sale of mined resources, subject to successful exploration and resource development.

Caprice Resources Ltd. Financial Statement Overview

Summary
Overall financials are weak: revenue is effectively nonexistent in most years and losses are persistent and widening (net income fell from -1.55M in 2024 to -3.36M in 2025). Cash generation is also poor with consistently negative operating cash flow and free cash flow, indicating ongoing cash burn. The main offset is a relatively stronger balance sheet with essentially no debt and a growing equity base, lowering leverage risk despite negative returns on equity.
Income Statement
12
Very Negative
The income statement is very weak: revenue is effectively nonexistent in most years (0 in 2022–2025, and only immaterial revenue in 2020–2021 and 2023). Losses are persistent and expanding recently, with net income deteriorating from -1.55M (2024) to -3.36M (2025). With minimal revenue, margins are not meaningful and the business has not shown a sustained path to operating profitability.
Balance Sheet
62
Positive
The balance sheet is a relative strength. The company carries essentially no debt (debt-to-equity ~0 in most periods), reducing financial risk and interest burden. Equity has increased materially over time (from ~4.0M in 2020 to ~25.4M in 2025), supporting asset growth. The key weakness is ongoing value erosion through negative returns on equity (roughly -9% to -18% historically, about -13% in 2025), reflecting continued losses despite a larger capital base.
Cash Flow
20
Very Negative
Cash flow quality is weak. Operating cash flow is consistently negative every year (about -0.35M to -1.05M), indicating the core business is consuming cash rather than generating it. Free cash flow is also persistently negative (about -0.61M to -3.19M) and worsened in 2025 versus 2024. While free cash flow is numerically higher than net income in several years (because losses are largely non-cash), the company still requires external funding to sustain operations and investment.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.003.71K0.0010.53K
Gross Profit-2.78K-2.78K-32.55K-35.73K-39.29K9.13K
EBITDA-3.37M-3.36M-1.51M-1.18M-1.32M-2.08M
Net Income-3.36M-3.36M-1.55M-1.23M-1.37M-2.08M
Balance Sheet
Total Assets25.78M25.78M17.80M14.59M13.62M11.88M
Cash, Cash Equivalents and Short-Term Investments7.78M7.78M885.58K685.77K1.96M3.32M
Total Debt0.000.000.0038.90K74.74K0.00
Total Liabilities375.09K375.09K1.44M280.68K341.75K89.82K
Stockholders Equity25.41M25.41M16.36M14.31M13.28M11.79M
Cash Flow
Free Cash Flow-2.47M-2.26M-2.57M-2.49M-3.19M-2.58M
Operating Cash Flow-1.05M-1.05M-692.14K-919.65K-924.38K-936.47K
Investing Cash Flow-3.81M-3.81M-1.84M-1.57M-2.26M-1.68M
Financing Cash Flow11.75M11.75M2.73M1.22M1.83M2.68M

Caprice Resources Ltd. Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.09
Price Trends
50DMA
0.11
Negative
100DMA
0.12
Negative
200DMA
0.09
Positive
Market Momentum
MACD
>-0.01
Negative
RSI
49.21
Neutral
STOCH
27.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CRS, the sentiment is Neutral. The current price of 0.09 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.11, and below the 200-day MA of 0.09, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.21 is Neutral, neither overbought nor oversold. The STOCH value of 27.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:CRS.

Caprice Resources Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
52
Neutral
AU$141.34M-36.39-2.30%12.50%
50
Neutral
AU$47.20M-30.51-10.97%71.63%
49
Neutral
AU$70.03M-7.01-268.97%
47
Neutral
AU$154.92M-4.69-32.57%-100.00%-477.06%
46
Neutral
AU$339.81M-38.96-27.55%-71.00%9.44%
42
Neutral
AU$70.53M-11.93-16.71%-18.92%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CRS
Caprice Resources Ltd.
0.11
0.08
425.00%
AU:EMC
Everest Metals Corporation Limited
0.18
0.04
24.14%
AU:BML
Boab Metals Ltd
0.64
0.48
296.88%
AU:GL1
Global Lithium Resources Ltd.
0.54
0.32
143.18%
AU:PHO
PhosCo Ltd
0.15
0.09
150.00%
AU:WR1
Winsome Resources Limited
0.63
0.15
30.21%

Caprice Resources Ltd. Corporate Events

Caprice Extends High-Grade Gold at Island Project and Restarts Phase 4 Drilling
Jan 19, 2026

Caprice Resources has reported a new set of high-grade assay results from Phase 4 drilling at its Island Gold Project, confirming gold mineralisation at the Vadrians prospect to at least 400 metres vertical depth and over 1,000 metres of strike, and identifying a new high-grade quartz reef in the footwall. The company has restarted drilling to complete the remaining 1,000 metres of diamond and 6,000 metres of air core drilling in the 20,000-metre Phase 4 program, backed by a strong pipeline of pending assays, while also initiating field exploration at the Comet Project, positioning the company for an active quarter of results and potentially significant growth in its Murchison gold portfolio.

The most recent analyst rating on (AU:CRS) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Caprice Resources Ltd. stock, see the AU:CRS Stock Forecast page.

Caprice Resources Director Increases Shareholding Through Option Exercise
Dec 18, 2025

Caprice Resources Ltd has disclosed a change in director Rob Waugh’s indirect holdings, made through the Waugh Family Account. The director exercised 800,000 options at $0.0729 each, converting them into fully paid shares, which increased his shareholding to 1,696,924 shares and reduced his remaining options to 3,700,000; the transaction was conducted outside a closed period and is part of routine equity-based alignment of director and shareholder interests.

Caprice Resources Issues Over 10 Million New Shares, Confirms Regulatory Compliance
Dec 18, 2025

Caprice Resources Limited has issued 10,138,859 new ordinary shares, as reflected in Appendix 2A filings lodged with the ASX, expanding its share capital base. The company states that the shares were issued without a prospectus under the Corporations Act’s disclosure exemptions, while confirming it remains compliant with all relevant financial reporting and continuous disclosure obligations and that there is no undisclosed price-sensitive information, which is intended to provide assurance to investors about transparency and regulatory conformity around the capital issuance.

Caprice Resources Seeks Quotation for 8.6 Million New Shares on ASX
Dec 18, 2025

Caprice Resources Ltd, listed on the ASX under the code CRS, has applied for quotation of an additional 8,633,334 ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The new securities, issued on 18 December 2025, will expand the company’s quoted share capital, potentially enhancing liquidity for investors and reflecting ongoing capital management activities, though the announcement provides no further detail on use of funds or strategic implications.

Caprice Resources Ltd. Announces Quotation of New Securities on ASX
Dec 18, 2025

Caprice Resources Ltd. has announced the application for the quotation of new fully paid ordinary securities on the Australian Securities Exchange (ASX). This move involves the issuance of 1,505,525 new securities, which were issued on December 17, 2025, as part of previously disclosed transactions. The development highlights the company’s ongoing initiatives related to capital structure and growth, potentially impacting its market positioning and providing investors with additional opportunities in its equity offerings.

Caprice Resources Expands Island Gold Project with Strategic Acquisition
Dec 18, 2025

Caprice Resources Ltd has completed the acquisition of the Comet Exploration Project, significantly expanding its Island Gold Project footprint within the Murchison Goldfields by tripling its landholdings. The addition of high-potential exploration tenements positions Caprice near established mines and processing infrastructure, enhancing its exploration prospects and immediate discovery potential for stakeholders.

Caprice Resources Confirms Deep Gold Mineralization at Island Gold Project
Dec 8, 2025

Caprice Resources Ltd has announced successful assay results from its Phase 4 drilling at the Island Gold Project, confirming gold mineralization at the Vadrians lode system to a depth of at least 400 meters. The results indicate potential for further extensions, with significant gold intercepts reinforcing the continuity and growth potential of the high-grade gold system. The ongoing drilling program, which includes reverse circulation, diamond, and air core drilling, aims to enhance the company’s understanding of the mineralization and support future resource estimates.

Caprice Resources Ltd Successfully Passes All AGM Resolutions
Nov 24, 2025

Caprice Resources Ltd announced that all resolutions proposed at its Annual General Meeting on November 24, 2025, were successfully passed by a poll. The resolutions included the adoption of the remuneration report, election and re-election of directors, approval of a 7.1A mandate, confirmation of the auditor’s appointment, and ratification of an agreement to issue consideration shares. This successful passing of resolutions indicates strong shareholder support and could positively impact the company’s governance and strategic direction.

Caprice Resources Targets Major Gold Discovery in Murchison
Nov 24, 2025

Caprice Resources Ltd. has presented its AGM presentation, highlighting its strategic focus on uncovering a major gold discovery in the Murchison area. This initiative could significantly enhance the company’s operational capabilities and strengthen its position in the mining industry, potentially offering substantial benefits to its stakeholders.

Caprice Resources Extends Gold Mineralization at Island Gold Project
Nov 12, 2025

Caprice Resources Ltd has announced promising assay results from its Phase 4 drilling program at the Island Gold Project, extending gold mineralization at depth. The results, which include high-grade gold intercepts, enhance the geological model’s confidence and suggest potential for further discoveries along the 5km by 1km IGP corridor. The ongoing drilling program aims to establish a maiden gold Mineral Resource Estimate, with a focus on both lateral and vertical expansion of the known mineralized zones.

Caprice Resources Ltd. Initiates Trading Halt Ahead of Key Announcement
Nov 10, 2025

Caprice Resources Ltd. has requested a trading halt on its securities pending the release of exploration results for its Island Gold Project. This move indicates a potentially significant development that could impact the company’s market position and stakeholder interests, as the results may influence future operations and investor confidence.

Caprice Resources Advances Island Gold Project and Expands Landholding
Oct 31, 2025

Caprice Resources Ltd reported significant progress in its Island Gold Project during the quarter ended September 2025, with outstanding high-grade assay results from Phase 3 drilling and the commencement of a fully funded Phase 4 program. The company also executed a binding earn-in agreement to acquire the Comet Gold Project, tripling its landholding in the district and enhancing its exploration pipeline. These developments are expected to strengthen Caprice’s position in the gold exploration sector and provide a steady stream of value-generating opportunities.

Caprice Resources Ltd. Updates Corporate Governance Statement
Oct 30, 2025

Caprice Resources Ltd. has released its updated corporate governance statement for the financial year ending June 30, 2025. The statement, which is available on the company’s website, outlines the extent to which the company has adhered to the ASX Corporate Governance Council’s recommendations. This disclosure is crucial for maintaining transparency and accountability, ensuring that Caprice Resources Ltd. aligns with industry standards and meets stakeholder expectations.

Caprice Resources Ltd. Reinforces Commitment to Corporate Governance in FY2025
Oct 30, 2025

Caprice Resources Ltd. has released its Corporate Governance Statement for FY2025, emphasizing its commitment to effective governance practices. The company reviews its governance policies annually in line with the ASX Corporate Governance Council’s Principles and Recommendations to ensure they align with its growth and development. The Board of Directors is responsible for setting strategic objectives, overseeing management, and ensuring compliance with legal and financial obligations. This governance framework aims to protect shareholder interests and enhance transparency and accountability within the company.

Caprice Resources Ltd. Releases 2025 Annual Report
Oct 30, 2025

Caprice Resources Ltd. has released its 2025 Annual Report, providing a comprehensive review of its operations, corporate governance, and financial performance. The report highlights the company’s strategic initiatives and operational achievements over the past year, which are crucial for stakeholders to understand the company’s current market positioning and future prospects.

Caprice Resources Appoints New Director with Strategic Incentives
Oct 29, 2025

Caprice Resources Limited has announced the appointment of Luke Cox as a director, effective October 24, 2025. The announcement details Cox’s interests in various securities, including options and performance rights tied to the company’s share price and project milestones. This strategic appointment and the associated performance incentives are likely to align the director’s interests with the company’s growth objectives, potentially impacting its operational focus and stakeholder confidence.

Caprice Resources Issues 2 Million Shares in Strategic Move
Oct 28, 2025

Caprice Resources Ltd. has issued 2,000,000 ordinary shares without a disclosure document, in compliance with the Corporations Act 2001. This move indicates the company’s adherence to regulatory obligations and suggests a strategic step to potentially enhance its capital structure, impacting its market positioning and stakeholder interests.

Caprice Resources Ltd Issues 2 Million New Securities
Oct 28, 2025

Caprice Resources Ltd has announced the issuance of 2,000,000 fully paid ordinary securities, which will be quoted on the ASX. This move is part of the company’s strategic efforts to enhance its financial position and potentially expand its operations, reflecting its commitment to growth and value creation for its stakeholders.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Dec 30, 2025